Israeli fashion chain Cassidi Boutique is expanding its activity in Eastern Europe with a third store in a new outlet mall in the Bulgarian capital of Sofia.
The new store measures 150 square meters (1,615 square feet) in size. About $150,000 were invested in the project. Most of the area will used to display extra inventory, while a small part of will offer updated collections.
Cassidi Boutique, which is owned by the Ben Shitrit and Shrim families, was founded in 1979 and has 33 branches, including three outlet stores located in leading malls and shopping centers.
The chain had two stores in Bulgaria and has so far invested about €600,000 ($864,00) in its business in the country. Cassidi Boutique belongs to the exclusive club of Israeli fashion chains which have opened stores abroad, including Castro and Status.
According to the company's owner and CEO Moshe Ben Shitrit, "The chain's expansion stems from identifying a need in Eastern Europe in general and in Bulgaria in particular. The Cassidi Boutique brand is a strong brand among our customers in Bulgaria, and we have managed to set goals and achieve them among our customers, who are essentially different than the Israeli customers.
"The store is updated on global fashions and trends, and we believe that the opening of the new branch in the new outlet mall in Bulgaria will create an opportunity. The Cassidi Boutique chain adapts itself to economic periods of uncertainty while offering its loyal Bulgarian customers their favorite items with a selection of 70% of extra inventory and 30% of regular collections."
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